Aberdeen Group plc Purchases 171,349 Shares of Airbnb, Inc. $ABNB

Key Points

• Aberdeen Group plc increased its stake in Airbnb by 109.8%, acquiring an additional 171,349 shares, thus owning a total of 327,360 shares valued at $38.63 million.
• Airbnb has seen a range of analysts' ratings, with a consensus rating of "Hold" and a target price averaging around $142.72.
• Insider trading activities included significant sales by company officials, with a total of 1.67 million shares sold worth over $223 million in the last ninety days.

Aberdeen Group plc boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 109.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,360 shares of the company's stock after buying an additional 171,349 shares during the quarter. Aberdeen Group plc owned approximately 0.05% of Airbnb worth $38,630,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after buying an additional 604,120 shares in the last quarter. Northern Trust Corp boosted its stake in Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after buying an additional 331,607 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Airbnb by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,894,569 shares of the company's stock valued at $345,785,000 after purchasing an additional 103,925 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Citizens Jmp raised Airbnb to a "hold" rating in a research note on Monday, August 11th. Piper Sandler cut their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, UBS Group cut their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $142.72.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,690,493 shares of company stock valued at $224,082,441. Company insiders own 27.83% of the company's stock.

Airbnb Price Performance

Shares of Airbnb stock traded down $1.04 during midday trading on Wednesday, reaching $124.96. The company had a trading volume of 4,096,563 shares, compared to its average volume of 5,306,827. The stock has a fifty day moving average price of $133.24 and a 200 day moving average price of $130.62. The firm has a market cap of $77.65 billion, a PE ratio of 30.26, a P/E/G ratio of 2.29 and a beta of 1.13. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.